Linda Elkins succeeds Paul Howes as KPMG's Asset & Wealth leader
Linda Elkins has per the 1st of October succeeded Paul Howes as Head of Asset & Wealth Management at accounting and consulting firm KPMG.
Howes led the industry practice for two years, back in 2017 succeeding John Teer, who went on to hold the role of Chief Operating Officer for KPMG in Asia Pacific. On the 1st of July, Howes transitioned into the role of National Managing Partner of KPMG Enterprise, which is the firm’s middle-market enterprise business.
In the past months, Howes transitioned his activities to Elkins and shadowed her, handing over full responsibilities for the Asset & Wealth Management arm at the start of this month. “We are thrilled to appoint someone of Linda’s calibre and experience,” said Howes, who sits on KPMG’s 12-person national leadership team.
Elkins joined the Big Four firm on 5 August, from Colonial First State, a subsidiary of Commonwealth Bank of Australia. She brings over 20 years of experience in financial services and has worked in a variety of roles and sectors including industry funds and government.
At Colonial First State, Elkins was Executive General Manager for the last 7 years, leading a team of 1,100 people and approximately $140 billion of funds under administration. She also was responsible for providing member outcomes for more than one million superannuation members and investors.
“Linda is one of Australia’s most experienced superannuation executives,” said Howes, adding that she is ideally placed to steer KPMG’s practice through a period “of great change for the superannuation sector and KPMG’s clients” in the space.
According to data from Willis Towers Watson, pension funds today hold more than $40,100 billion in assets under management (AUM) globally, with the world’s 20 largest pension funds holding $7.3 billion of that amount. Australia does not have a single representative in the global top 20, with consolidation touted as one major trend to hit the country’s superannuation landscape. Other trends include digitisation, changing client demands and tackling growing regulatory burden.
Alongside superannuation, Elkins leads KPMG’s whole range of asset management and investment portfolio, which further includes funds management, private equity and retirement services.
Prior to working for Colonial First State, Elkins held a leadership role at Commonwealth Bank of Australia, and worked for Russell Investments where she was responsible for providing a wide range of services including investments, consulting, administration, trustee services, member services and communications to corporates and superannuation funds.
Commenting on her new role, she said: “I am excited to have the opportunity to work for clients with the strength and backing of KPMG to help them navigate challenges and opportunities.”
